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September 09, 2013 at 09:48 AM EDT
Morgan Stanley Upgrades EOG Resources to “Overweight” (EOG)

On Monday, Morgan Stanley analysts upgraded EOG Resources Inc (EOG), giving the natural gas and oil exploration company a bullish rating as it trades at a discount to its peers.

The analysts also noted that the company is growing inventory and free cash flow. As such, they upgraded EOG to “Overweight” and see shares reaching $200. This price target suggests a 24% upside to the stock’s Friday closing price of $161.72.

EOG Resources shares were up $1.69, or 1.05%, during early morning trading on Monday. The stock is up 34.78% year-to-date.

The Bottom Line
Shares of EOG Resources (EOG) offer a dividend yield of 0.46% based on Friday’s closing price of $161.72 and the company’s annualized dividend payout of 75 cents per share.

EOG Resources Inc (EOG) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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